USDU vs. FXY
USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) and FXY (Invesco CurrencyShares® Japanese Yen Trust) are both Currency funds. USDU is actively managed, while FXY is passively managed. Over the past 10 years, USDU returned 2.72%/yr vs -4.66%/yr for FXY. At a correlation of -0.51, they often move in opposite directions. USDU charges 0.51%/yr vs 0.40%/yr for FXY.
Performance
USDU vs. FXY - Performance Comparison
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Returns By Period
In the year-to-date period, USDU achieves a 3.29% return, which is significantly higher than FXY's -3.68% return. Over the past 10 years, USDU has outperformed FXY with an annualized return of 2.72%, while FXY has yielded a comparatively lower -4.66% annualized return.
USDU
- 1D
- 0.00%
- 1M
- 0.53%
- 6M
- 2.54%
- YTD
- 3.29%
- 1Y
- 5.47%
- 3Y*
- 5.91%
- 5Y*
- 5.32%
- 10Y*
- 2.72%
FXY
- 1D
- 0.11%
- 1M
- -1.02%
- 6M
- -2.87%
- YTD
- -3.68%
- 1Y
- -8.78%
- 3Y*
- -5.50%
- 5Y*
- -7.96%
- 10Y*
- -4.66%
USDU vs. FXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.29% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
FXY Invesco CurrencyShares® Japanese Yen Trust | -3.68% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
Correlation
The correlation between USDU and FXY is -0.64, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | -0.51 |
The correlation between USDU and FXY shifts across timeframes, from -0.64 (1 year) to -0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USDU vs. FXY — Risk / Return Rank
USDU
FXY
USDU vs. FXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) and Invesco CurrencyShares® Japanese Yen Trust (FXY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USDU | FXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +3.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.82 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.86 | +2.37 |
| Martin ratioReturn relative to average drawdown | 4.18 | -1.37 | +5.56 |
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Drawdowns
USDU vs. FXY - Drawdown Comparison
The maximum USDU drawdown since its inception was -14.54%, smaller than the maximum FXY drawdown of -56.62%. Use the drawdown chart below to compare losses from any high point for USDU and FXY.
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Drawdown Indicators
| USDU | FXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.54% | -56.62% | +42.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -10.21% | +6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -7.73% | -15.50% | +7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -9.28% | -34.61% | +25.33% |
Max Drawdown (10Y)Largest decline over 10 years | -14.54% | -41.64% | +27.10% |
Current DrawdownCurrent decline from peak | -0.91% | -56.56% | +55.65% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -27.91% | +23.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 6.40% | -5.09% |
Volatility
USDU vs. FXY - Volatility Comparison
The current volatility for WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) is 1.25%, while Invesco CurrencyShares® Japanese Yen Trust (FXY) has a volatility of 1.52%. This indicates that USDU experiences smaller price fluctuations and is considered to be less risky than FXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDU | FXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.52% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 5.45% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 8.01% | -2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.60% | 10.23% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.41% | 9.17% | -1.76% |
USDU vs. FXY - Expense Ratio Comparison
USDU has a 0.51% expense ratio, which is higher than FXY's 0.40% expense ratio.
Dividends
USDU vs. FXY - Dividend Comparison
USDU's dividend yield for the trailing twelve months is around 3.71%, while FXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.71% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
USDU and FXY have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXY has higher volatility (1.52%) compared to USDU (1.25%). In terms of maximum drawdown, USDU dropped -14.54% vs FXY's -56.62%.
On 10-year performance, USDU leads with 2.72% vs -4.66% for FXY. On fees, FXY is cheaper at 0.40% per year. On volatility, USDU has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USDU has performed better with a 2.72% return vs -4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXY is cheaper with a 0.40% expense ratio, compared with 0.51% for USDU.
USDU has the higher dividend yield at 3.71%, compared with 0.00% for FXY.
They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.51% for USDU and 0.40% for FXY.
USDU currently has the higher Sharpe Ratio (0.98 vs -1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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